Silver Hopes To Make A Run At $15 Per Ounce
With some mild short covering today in the futures markets it feels like the day traders are coming back in and covering their positions. Or perhaps adding at this price to watch Gold make its next run back to $1200 as we saw buyers coming back in modestly this morning in US trading. At 11am PDT today, Gold is at $1188.77 per ounce, up by a modest $1.77 on slightly above average volume.
With Silver under $14.50 it looks cheap and it appears the day traders agree. Volume is picking up here to a little above average as we wait to see Silver make a run to $15 again. Hopefully that will come soon, but it also depends on what happens with the Dollar Index as that could affect any run. At 11am PDT today, Silver is at $14.37 per ounce, up by $0.02 on a touch above average volume.